There are currently 84 million young adults ages 21-39, composed of both adult Gen Z and millennials. That young adult market is a primary target market for most community location-based entertainment venues. In 2021 the majority, three-quarters of 21- to 39-year-olds, are millennials. In five years, in 2028, that ratio will shift, with Gen Z becoming the majority of young adults at 57%.
The two generations are not identical in their values and preferences. As Gen Z grow in market share for the location-based entertainment industry, operators will need to shift many aspects of what they offer to make sure they appeal to Gen Z.